MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,003 shares of the company’s stock after selling 42 shares during the quarter. Wedbush Securities Inc.’s holdings in MercadoLibre were worth $3,406,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Wealthfront Advisers LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $565,306,000. Norges Bank acquired a new stake in MercadoLibre during the fourth quarter worth about $383,051,000. Strategic Financial Concepts LLC lifted its position in MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after purchasing an additional 181,849 shares during the period. Wellington Management Group LLP boosted its position in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in MercadoLibre during the third quarter valued at approximately $114,417,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 5.4 %

NASDAQ MELI opened at $1,841.29 on Friday. The company has a market capitalization of $93.35 billion, a price-to-earnings ratio of 48.84, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company’s 50-day simple moving average is $2,036.90 and its two-hundred day simple moving average is $1,968.60.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.